Broadcom forecasts quarterly sales below estimates amid rising custom AI chip competition

Sept 2 : Broadcom forecast quarterly revenue below Wall Street estimates on Wednesday, signaling intense competition could hamper gains from its custom processors. Shares of the Palo Alto, California-based company fell over 3 per cent in extended trading. They have gained about 6 per cent this year, significantly underperforming rivals and the broader semiconductor index.While Broadcom is a key player in the chip sector, it lags behind AI bellwether Nvidia, whose dominant graphics processors remain the industry standard for AI workloads.The company expects fourth-quarter revenue of about $34.8 billion, compared with analysts' average estimate of $35.03 billion, according to data compiled by LSEG. Finance chief Amie Thuener said the company expects to maintain its adjusted operating margin